I expect NIFTY SPOT to trade rangebound. New series started with light OI indicating traders are not confident about further up move. NIFTY SPOT will face R 5410-5420, 5440-50. I will prefer to watch 5440-50 levels for further up move. Failed to cross these levels will attract fresh shorts in market. On contrary sustainable up move above these levels will open door for fresh up move which looks difficult in current situation. On up side, NIFTY SPOT strong R 5480-90. NIFTY SPOT will take S 5280-90. Break below 5270 levels will warn about possible correction. NIFTY SPOT strong S 5220-30 for next week. Stock specific action will remain in market.
Monday, July 19, 2010
19-07-2010, INTRADAY LEVELS
19-07-2010,
NIFTY FUT:
BA 5389, SL 5380, T 5407,5418,5421
STRONG BA 5416, SL 5407, T 5431,5436,5454
SB 5407, SL 5416, T 5389,5368
STRONG SB 5380, SL 5389, T 5365,5350,5335,5329,5311,5293
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